RBS 2005 Annual Report Download - page 64

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Operating and financial review
Operating and financial review continued
Average balance sheet and related interest
2005 2004
Average Average
balance Interest Rate balance Interest Rate
£m £m % £m £m %
Assets
Treasury bills and other eligible bills – UK 3,160 138 4.37 835 34 4.07
– Overseas 63 2 3.17 62 1 1.61
Loans and advances to banks – UK 15,338 649 4.23 13,556 529 3.90
– Overseas 9,465 308 3.25 9,189 264 2.87
Loans and advances to customers – UK 212,991 13,510 6.34 186,117 11,150 5.99
– Overseas 104,594 5,207 4.98 69,118 3,201 4.63
Debt securities – UK 15,553 697 4.48 19,734 726 3.68
– Overseas 22,526 994 4.41 18,132 761 4.20
Total interest-earning assets – banking business (2, 3) 383,690 21,505 5.60 316,743 16,666 5.26
– trading business (4) 172,990 133,353
Total interest-earning assets 556,680 450,096
Non-interest-earning assets (2, 3) 180,368 72,711
Total assets 737,048 522,807
Percentage of assets applicable to overseas operations 35.3% 32.9%
Liabilities and shareholders’ equity
Deposits by banks – UK 34,742 1,192 3.43 35,059 1,060 3.02
– Overseas 27,383 891 3.25 16,425 398 2.42
Customer accounts: demand deposits – UK 73,653 2,056 2.79 67,519 1,568 2.32
– Overseas 13,858 299 2.16 11,580 147 1.27
Customer accounts: savings deposits – UK 26,727 778 2.91 23,149 625 2.70
– Overseas 21,700 381 1.76 18,349 252 1.37
Customer accounts: other time deposits – UK 60,454 2,328 3.85 51,440 1,699 3.30
– Overseas 32,024 979 3.06 20,725 479 2.31
Debt securities in issue – UK 52,672 2,071 3.93 41,058 1,351 3.29
– Overseas 19,621 633 3.23 12,320 229 1.86
Subordinated liabilities – UK 23,948 1,122 4.69 17,959 665 3.70
– Overseas 2,642 154 5.83 235 15 6.38
Internal funding of trading business – UK (37,628) (1,125) 2.99 (35,317) (920) 2.60
– Overseas (2,186) (39) 1.78 (758) (20) 2.64
Total interest-bearing liabilities – banking business (2, 3) 349,610 11,720 3.35 279,743 7,548 2.70
– trading business (4) 172,744 131,743
Total interest-bearing liabilities 522,354 411,486
Non-interest-bearing liabilities
Demand deposits – UK 17,484 17,157
– Overseas 11,181 9,101
Other liabilities (3, 4) 153,081 53,978
Shareholders’ equity 32,948 31,085
Total liabilities and shareholders’ equity 737,048 522,807
Percentage of liabilities applicable to overseas operations 33.5% 30.5%
Notes:
(1) The analysis into UK and Overseas has been compiled on the basis of location of office.
(2) Interest-earning assets and interest-bearing liabilities exclude the Retail bancassurance long-term assets and liabilities attributable to policyholders, in view of their distinct
nature. As a result, net interest income has been adjusted by £59 million (2004 – £47 million).
(3) Interest income has been adjusted by £115 million (2004 – £49 million) and interest expense by £307 million (2004 – £99 million) to record interest on financial assets and
liabilities designated as at fair value through profit or loss. Related interest-earning assets and interest-bearing liabilities have also been adjusted.
(4) Interest receivable and interest payable on trading assets and liabilities are included in income from trading activites.